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Cash discount is allowed on ______ repayment of debt

A. Lump sum

B. Prompt

C. Actual

D. None of them

Answer: Option B

Solution(By Examveda Team)

Cash discount is allowed on Prompt repayment of debt. It is cash discount it may be allowed or received. In case of discount allowed It is an Expense and in case of received it is an income.

This Question Belongs to Commerce >> Accounting

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